this post was submitted on 27 Mar 2025
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Economics

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Trump threatens 'far larger' tariffs if EU and Canada unite to do 'economic harm' to the U.S. (www.cnbc.com)
submitted 1 week ago* (last edited 1 week ago) by [email protected] to c/[email protected]
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Summary

Trump threatened "far larger" tariffs on the EU and Canada if they unite to harm the U.S. after announcing a 25% tariff on foreign-made cars and parts, effective April 2 and May respectively.

The tariffs aim to boost U.S. car production but may inflate prices by $5k-$10k per vehicle, harming both U.S. and foreign automakers.

Canada condemned the move as a "direct attack," while the EU signaled potential retaliation.

Global markets reacted negatively, with car stocks dropping amid fears of escalating trade tensions.

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[–] [email protected] 26 points 1 week ago (3 children)

They're increasing trade between Canada and the EU because of the tariffs he's imposing. If that causes "economic harm" to the US, that's not their problem and stoger tariffs are going to make the problem worse for the US, not better. It's like Trump really doesn't understand what tariffs actually are.

[–] [email protected] 1 points 4 days ago

Someone like 40 years ago told him what they are. He did not understand and keep repeating the mistake.

[–] [email protected] 12 points 1 week ago (1 children)

He is genuinely stupid. He's infuriated because people push back.

[–] [email protected] 5 points 1 week ago

Every time he escalates you know you're on the right track.

[–] [email protected] 7 points 1 week ago* (last edited 1 week ago)

Also if they can mostly or completely replace trade with the US, which is far easier when the US is fucking over nearly every trade partner, then they will be completely unaffected by US tariffs. So how is this even a threat? "I'm charging Americans double for your maple syrup for no reason. If you don't buy my whiskey, I will charge triple!" Cool, I'm definitely not going to buy your whiskey now, and I'm going to sell my syrup to someone who also stopped buying syrup from you while I buy their whiskey and also make my own. You can sit over there and just pretend like your tariffs are a threat and buy your own whiskey and make your own syrup. IDGAF.